argument. >> obama during his state of the union speech, obama has a real philosophical difference with the republicans about deficit reduction. he thinks consumption and growth are the way to grow the economy out of the deficit. he has not made that argument because it isn't palettable politically. >> in fairness, if you look at even some of the serious deficit hawks, i suspect you align with bowl simpson. >> they say that what we really need is short-term stimulus, long-term deficit reduction. there isn't as much of a differential here as it's made out to be. >> i am co-chair with judd gregg to fick the debt, and you're right. what we're not grasping is this should be significant short-term investment and long-term deficit reduction. deficit reduction that is good for the second ten years or maybe the third ten years, and the only way to do that, the only way to do that is serious entitlement reform. >> but the sequester cuts by this year hit the economy this year. >> what i'm saying is they'll kick the can down the road and avoid the sequester. that's my prediction. >> you think they